VOLTAS LTDShort
VOLTAS Chills down to its Major Support ??!!
Zaktualizowano
Chart patterns look optimal for a short trade in Voltas
Reasons
1. VOLTAS has been taking support at the its 10 YEAR OLD SUPPORT TRENDLINE (bright green line- from 2013 till now)
2. Right now, it is in its downswing move inside the channel pattern.
3. [b]Inverted Cup & Handle pattern too formed and given BREAKDOWN today(27/04/23)
4. As per pattern, target amounts to the depth of the cup(nearly 100 points)
5. Target levels shown @ chart(horizontal dashed green lines)
6. Breakdown candle is more than 5 % and SL gets difficult to place....Safer SL can be day closing above 822
7. Lower low too formed increasing the probability of down move.
Even if you don't short, It's better not to go long now....
Let's wait & watch how it moves!!!
Note- Just sharing my view , not a tip nor advice!!!
Reasons
1. VOLTAS has been taking support at the its 10 YEAR OLD SUPPORT TRENDLINE (bright green line- from 2013 till now)
2. Right now, it is in its downswing move inside the channel pattern.
3. [b]Inverted Cup & Handle pattern too formed and given BREAKDOWN today(27/04/23)
4. As per pattern, target amounts to the depth of the cup(nearly 100 points)
5. Target levels shown @ chart(horizontal dashed green lines)
6. Breakdown candle is more than 5 % and SL gets difficult to place....Safer SL can be day closing above 822
7. Lower low too formed increasing the probability of down move.
Even if you don't short, It's better not to go long now....
Let's wait & watch how it moves!!!
Note- Just sharing my view , not a tip nor advice!!!
Zlecenie aktywne
1st target done!!!Uwaga
going good!!!Uwaga
Respecting the levels!!!Uwaga
WAIT FOR CONFIRMATION CANDLE!!!
Uwaga
Bearish pennant BREAKDOWN!!!Uwaga
Respecting the trendlines!!!formed lower low again showing the bearishness!!!!
Uwaga
Nearing 2nd target level!!!!
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